Pig iron prices have failed to met with even a slight upward movement for the last one a half months time, as the poor demand factor has not lend any support to price rise.
Buying activities in Pig iron have absolutely weakened in the international market.
Ukrainian Pig iron manufacturers have maintained prices at levels seen the previous level, in the range of $390-395/MT FOB Black Sea.
From Russia, the material is being offered in the range of $425-440/MT FOB Baltic Sea.
Indian Market:
Pig iron prices have been unaltered and are standing at quiet low levels – INR 22,500/MT (ex plant).
Production levels have dropped to 70% and the industry has met with poor demand.
Manufacturers are selling in both Indian as well as international market, below the cost of production due to poor availability of iron ore in domestic market and expensive lumps.
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